Bitget Daily Digest (Nov 4)｜Crypto Liquidations Top $1.2B; EU Plans for Unified Crypto Regulation; Balancer Suffers $120M Cyber Attack

Today's Preview

1. The Ripple Swell Conference 2025 will be held in New York from November 4th to 5th, 2025. The event is expected to focus on advances in digital payments and major developments such as the RLUSD stablecoin.
2. Hong Kong FinTech Week 2025 will take place at the Hong Kong Convention and Exhibition Centre from November 3rd to 7th, 2025. In the next 24 hours, industry leaders and regulators are set to deliver forward-looking insights.
3. On November 4, 2025, the US Second Circuit Court of Appeals will hear arguments regarding FTX founder SBF’s motion for a retrial, which will draw significant attention from the crypto industry.

Macro & Hot Topics

1. The crypto market saw massive volatility, with over 330,000 traders liquidated and liquidation volume reaching $1.279 billion. Fed officials hinted at possible rate cuts. The CME currently puts the probability of a 25 bps rate cut in December at 67.3%.
2. The EU plans to expand ESMA’s regulatory authority and create a “European SEC” to unify oversight of equities and crypto trading. A draft is expected in December.
3. Animoca Brands announced plans to go public on Nasdaq via a reverse merger with Currenc Group, with Animoca to hold 95% of the new company post-merger. The deal may close in 2026.
4. Decentralized exchange protocol Balancer suffered an attack, losing over $120 million. The team is responding and promises full compensation to affected users.

Market Updates

1. BTC and ETH saw a short-term dip amid choppy trading, with around $30 million in liquidations in the past 4 hours, mostly from long positions.
2. The three major US stock indices closed mixed: the Dow dropped 0.48%, Nasdaq rose 0.46%, and the S&P 500 gained 0.17%, reflecting clear market divergence.

3.Bitget’s BTC/USDT liquidation map shows the current price at $106,808 USDT, with high-leverage longs concentrated in this range—a break below could trigger cascading liquidations, risking heightened market volatility.

3.In the past 24 hours, BTC spot inflows totaled $320 million while outflows were $293 million, for a net outflow of $73 million.

4.Over the past 24 hours, BTC, ETH, USDT, XRP, and BNB saw the largest contract net outflows, presenting potential trading opportunities.

News Highlights

1. The EU is drafting plans to expand central oversight of equities and crypto asset service providers, pushing for unified regulation.
2. Malaysia’s Digital Minister said the nation is working with the Securities Commission and Central Bank to establish a national blockchain and asset tokenization regulatory framework.
3. FTSE Russell has partnered with Chainlink to bring Russell 1000 and other global index data on-chain.
4. ETF Store President Nate Geraci predicts a spot XRP ETF could be launched within the next two weeks.

Project Updates

1. Balancer: TVL fell from $776 million to $406 million in the past 24 hours following a hack.
2. Bitget: To list Kite (KITE) spot trading in the Innovation, Mainnet, and AI Zones.
3. Bitwise: Solana Staking ETF (BSOL) had a net inflow of $417 million last week.
4. MetaMask: Clarified its rewards points program, with Season 1 featuring over $30 million in LINEA token incentives.
5. Donut Labs: Web3 + AI browser project completed a $15 million seed round.
6. X Layer: Accelerating x402 payment ecosystem buildout, with the CodeNut platform as the first integration.
7. BNB Chain: Officially launched the Fermi hard fork, reducing block intervals to 450 milliseconds.
8. VeilWallet: Kicked off genesis airdrop on BSC; registered users will receive 100 VEIL Tokens.
9. BitMine Immersion Technologies: Added 82,353 ETH, bringing total holdings to 3,395,422 ETH.
10. MicroStrategy: Acquired 397 BTC last week at an average price of $114,771, raising total holdings to 641,205 BTC.

Disclaimer: This report is AI-generated and manually fact-checked for information only and does not constitute any investment advice.